Intellectual Property for Digital Receipts

Press Release


KSA Validates the AfterBOT, Inc. ReceiptsPLUS Value Proposition

Atlanta, GA - March 27, 2003 - AfterBOT, Inc., an Atlanta, GA based company announced today that they have completed a project with Kurt Salmon Associates (KSA), a global retail and consumer products consulting firm, that validates and endorses the AfterBOT Business Impact Model. AfterBOT utilizes digital receipt technology to connect retailers, suppliers and consumers, and has successfully implemented its ReceiptsPLUS offering at Smart and Final Stores, a California based retailer.

"The results of the project indicate that AfterBOT's digital receipt infrastructure enables savings in two ways," said Matt Katz, KSA Principal. "First, through its Customer Services platform, it reduces operational costs by improving efficiencies in several post-sales customer services areas including item level returns authorization, product registration & warranty validation, product recall notification and transaction dispute resolution. Our analysis conservatively estimated the potential for $500K in savings per $1B in sales."

"Secondly, the solution enables retailers to significantly improve marketing efficiency by providing secure consumer access that allows tracking of purchases, money management integration, targeted promotion delivery and other services based initiatives. Using existing loyalty card programs or private label credit cards as the consumer focal point, the AfterBOT Marketing Services offering provides both cost savings in the delivery and execution of marketing programs and enhanced promotional ROI through increased sales. AfterBOT's Marketing Services offering leverages its Consumer Connection and Supplier Connection tools to realize a $5M benefit per $1 Billion of revenue."

As an added benefit, AfterBOT's solution allows for closer collaboration with vendors and provides the framework for a focused retailer/supplier effort in maximizing the potential of each and every shopper. By then analyzing the information generated and the subsequent implementation of an effective SKU rationalization and price optimization strategy, the potential exists for revenue increases of $50M for a $1 Billion retailer.

KSA spent several months quantifying the benefits that typical retailers can expect from AfterBOT's product as well as helping to focus AfterBOT's selling approach on issues that matter most to retailers. KSA then developed a model by which retailer-specific information is entered to estimate AfterBOT's potential benefits to that retailer. "We view KSA as the premier consulting company for the retail industry. Naturally we are very pleased with KSA's interest in our offering," stated John Simon, AfterBOT CEO. "Our existing customers understand, first hand, that our Retail InSIGHT Management offering delivers both bottom and top line growth. The Business Impact Model, developed by KSA, enables AfterBOT to provide a clear, concise preliminary benefit analysis for future customers."

About Kurt Salmon Associates
Kurt Salmon Associates (KSA) is the premier management consulting firm offering integrated strategy, process and technology deployment solutions to the retail, consumer products, and health care industries. The firm operates 27 offices in the Americas, Europe, and Asia-Pacific.

About AfterBOT
AfterBOT, Inc. is an Atlanta, Georgia company using digital receipt technology to connect retailers, suppliers, and consumers. Retail InSIGHT Management combines ReceiptsPLUS technology and customer, marketing, and business services to drive top and bottom line growth throughout the retail industry. For more information visit us at AfterBOT, Inc. was founded in 2000 and is privately held. AfterBOT's investors include Chrysalis Ventures, River Cities Capital Funds, Prosperitas Investment Partners, and e-RM Ventures.

For additional information please contact:

Sonya Ruppel or Alex Armstrong
Marketing Communications
AfterBOT, Inc.
(770) 564-5554

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